Friday, February 3, 2017

Amazon sales hit $136B in 2016

Amazon.com collected $136 billion in sales in 2016, a 27 percent bump that has led it to eclipse, for the first time, crosstown rival Costco Wholesale.

But the withering effects of a strong dollar on the value of overseas
business and a slowdown in the growth of shipping revenue took some
wind out of the e-commerce giant’s sails during the key holiday season,
disappointing Wall Street’s lofty hopes and causing shares to slide by
more than 4 percent to $805.10 in after-hours trading.. . . more